Does the US Federal Trade Commission have the authority to regulate an industry that is subject to heavy federal regulation?
MultiRegion, United States of America
The following excerpt is from Nasdaq Omx Grp., Inc. v. UBS Sec., LLC, 770 F.3d 1010 (2nd Cir. 2014):
Moreover, simply because an industry is subject to heavy federal regulation does not elevate it to the status of a government entity, nor are its internal rules elevated to the status of federal law. In Desiderio v. National Association of Securities Dealers,
[770 F.3d 1038]
Inc.
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